Veteran Republican fundraiser and former lobbyist Peter Terpeluk was officially appointed as chairman of the Republican National Committee's Finance Committee, pending approval of the RNC's full membership.

The Washington Times reported that many in the GOP are relieved that a heavy weight fundraiser like Terpeluck has taken the job. Terpeluck takes over as the RNC's fundraising has outpaced Democrats this year. The RNC raised $45.7 million in the 2010 election cycle so far, while the Democratic National Committee has raised $37.4 million, according to the Center for Responsive Politics.

Terpeluk was a lobbyist with American Continental Group until mid-2008, when he de-registered, according to lobbying disclosure documents. Prior to lobbying, Terpeluk was co-chairman of President George H.W. Bush's 1992 re-election campaign. In the 2008 election cycle, he was a finance committee member for former New York Mayor Rudy Giuliani's Republican presidential nomination effort and then was a major fundraiser for GOP presidential candidate Sen. John McCain, R-Ariz. Terpuluk was named an ambassador to Luxumbourg in 2002 by President George W. Bush.